#21
|
|||
|
|||
Re: Choosing a financial advisor?
It would be very difficult to find a good advisor period. It would be hard to find a good one who would bother to work with such a small portfolio, not really worth his time.
And even if you can find one, unless you know something about investing, you cannot figure out if his advice is sound or not. You should always study on your own and manage your own money unless you are a minor, a mentally challenged adult, or so elderly that you are not confident you can properly manage your funds. For any reasonably competent adult with a high school education, you should manage your own money. Period. You cannot trust anyone else to do it. |
#22
|
|||
|
|||
Re: Choosing a financial advisor?
[ QUOTE ]
things you SHOULDN'T do : - think you or even a professional financial advisor can and will beat a good fund manager [/ QUOTE ] cd, this is just bad advice that isn't true! |
#23
|
|||
|
|||
Re: Choosing a financial advisor?
[ QUOTE ]
Most financial advisors probably won't be interested in working with someone with a portfolio under 500K. [/ QUOTE ] This is not the case, there are many financial advisors that provide advice to those with few assets. [ QUOTE ] You can learn most of what you need to know on your own. [/ QUOTE ] I do however, agree with this... especially, considering the capabilities of the audience here on 2+2. |
#24
|
|||
|
|||
Re: Choosing a financial advisor?
[ QUOTE ]
You should always study on your own and manage your own money unless you are a minor, a mentally challenged adult, or so elderly that you are not confident you can properly manage your funds. For any reasonably competent adult with a high school education, you should manage your own money. Period. You cannot trust anyone else to do it. [/ QUOTE ] As I've stated in many other posts, its important that people learn how to invest their own money. However, there are many other groups of people than the ones you mentioned that can benefit from some sort of financial advisor.... the finacially clueless, people with no time (you'd be surprised how many people think they fall into this category), people with complex financial situations, people looking to further enhance their knowledge, etc. |
#25
|
|||
|
|||
Re: Choosing a financial advisor?
[ QUOTE ]
.....and earn nothing... [/ QUOTE ] since you made this comment,... Dow up 1.1% WMT up 7% HD up 8% ....and it's gonna get better! [img]/images/graemlins/laugh.gif[/img] |
#26
|
|||
|
|||
Re: Choosing a financial advisor?
With 25k youre not going to get much. Any of the major banks have an asset planning formula they can stick your money in to recommend a basket of mutual funds. The risk is that they stick you in proprietary funds or funds where they otherwise get sales fees. So you may want to go with an hourly advisor who develops a diversified portfolio recommendation for you. Visit him once a year and get a rebalancing.
FWIW, asset managers are hard to find. My wife and I have been looking for a decent one for more than 3 years now, without success. We gave around 100k to some guy when we first got to NYC, and he has managed to tread water with it. I've gotten basically the return I could have gotten through ING Direct, and Ive incurred capital gains in the process. Investing sucks. |
|
|